The Uganda Securities Exchange (USE) was established in 1997 as a company limited by guarantee, and was licensed in 1998 by the Capital Markets Authority to operate as an approved securities exchange. The Exchange is governed by a Governing Council whose membership includes licensed broker/dealer firms, investment advisors, a representative of investors and a representative of issuers.
The Exchange is a central place for trading of securities by licensed brokers/dealers. It provides a credible platform for raising of capital; through the issuance of appropriate debt, equity and other instruments to the investing public. In this way, the Exchange provides essential facilities for the private sector and government to raise money for business expansion and enables the public to own shares in companies listed on the Exchange.
“To be Uganda's preferred institution for investments and sourcing of capital.”
Our Mission statement
“To create an efficient and secure East African market place that will enhance the competitive strength of the local capital market in Uganda”.
Uganda Securities Exchange Development Milestones
- 1997: The Licensing of the USE by the Uganda Capital Markets Authority to operate as an approved Stock Exchange in June 1997.
- 1998: The listing of USE’s first security, the Ushs 10 billion 4 year East African Development Bank (EADB) Bond in January 1998.
- 1999: The listing of the 5 year Ushs 8.3 billion PTA Bond in March 1999.
- 2000: The flotation and eventual listing of USE’s first equity, the Uganda Clays Ltd share on the 18th of January. UCL shares were 15% oversubscribed.
- 2000: The flotation of the British American Tobacco (Uganda) Ltd –BATU share through the USE on 28th June. BATU shares were 5% oversubscribed and represented the second divestiture of government held shares in a company to take place through the Exchange.
- 2001: The first ever cross border listing in the East African market occurred with the listing of East African Breweries Ltd (EABL) on the Uganda Capital Market on 27th March. EABL is ranked among the top 10 companies on the Nairobi Stock Exchange (NSE) in terms of capitalization.
- 2002: The listing of the Kenya Airways share on the Uganda Capital Markets on the 28th of March becoming USE’s second cross listed product. The shares currently have Blue chip status on the Nairobi Stock Exchange (NSE).
- 2002: The first flotation of a commercial bank’s shares on the Uganda Capital market occurred on the 2nd September, 2002 when Bank of Baroda offered 20% of its stock to the public through the USE. 80million shares were on sale in multiples of 100 at Ushs 600 per share. Its shares were 16.7 % oversubscribed.
- 2002: Official listing of Bank of Baroda Uganda Ltd (BOBU) on the USE on 14th November making it the first financial institution to list on the Uganda Capital Market.
- 2003: The listing of the first tranche (Ushs 24 billion) of the Ushs 54 billion UTL Medium term Note on Uganda Capital Market was on 16th September.
- 2003: The Launch of the USE All Share Index on 23rd October 2003.
- 2004: Official Listing of the 2 year, Ushs 20 billion Uganda Government 20% Coupon Rate Treasury Bond on January 15th making it the first Government Bond to be listed on the USE. Currently there are two 2 year bonds, two 3 year bonds, a 5 year bond and a 10 year bond listed on the stock exchange. Please refer to our Listed Securities page for more information.
- 2004: DFCU group goes public making it Uganda's second financial institution to list on the Uganda Capital Market.
- 2004: New Vision offers 20% of its shareholding for sale to the public, making it the fifth local company to conduct an IPO in the Ugandan Capital market. New Vision Limited (NVL) is officially listed on 16 Dec 2004.
- 2005: The listing of the 8 year East African Development Bank (EADB) Bond in December 2005.
- 2006: Official cross-listing of Jubilee Holdings Limited (JHL) on the USE on 14th February making it the first insurance institution to list on the Uganda Capital Market.
- 2007: Stanbic Bank Uganda is listed on the USE on 25 Jan following a successful IPO that was 200% over-subscribed.
- 2008: Cross Listing of Kenya Commercial Bank.
- 2009: Listing of National Insurance Corporation.
- 2010: Cross Listing of Nation Media Group.
- 2010: Automation of the Securities Central Depository.
- 2011: Stanbic bank undertook a bonus share issue in the ratio of 1:1 bringing the total number of shares in issue to 5,118,867,000
- 2011: Cross Listing of Centum Kenya on the Uganda Securities Exchange.
- 2012: Cross Listing of Equity Bank Kenya on the Uganda Securities Exchange.
- 2012: Stanbic Bank Uganda listed an additional 40,950,935,760 shares to the benefit of its shareholders being the bank’s second bonus offer after the one done in 2011. It brought the total number of shares to 51,188,669,700.
- 2012: Umeme Limited was listed on the Uganda Securities Exchange following the offer of 622,378,000 to the public at a price of Ush. 275.
- 2013: African Development Bank (AfDB) listed its second two-year sh12.5b bond to fund strategic projects in Uganda.
- 2013: Cross Listing of Uchumi.
- 2014: NIC undertook a rights issue of 192,000,000 million shares.
- 2014: NIC undertook a bonus issue from which an additional 819,661,942 bonus shares were listed on the Uganda Securities Exchange.
- 2014: ADB listed a 10 year bond
- 2014: DFCU Group undertook a bonus issue in the ratio 1:1
- 2014: Umeme Limited undertook a secondary offer in which part of the stake of the majority shareholder Umeme Holdings Limited was offered to the public at a price of Ush340.
- 2015: Automation of trading through ATS and CSD systems.